COVID-19 Pandemic Business Innovations in Luxury Marketing: Building a Theoretical Toolbox

Judith L. Hepner ()
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Judith L. Hepner: International University of Monaco

Chapter Chapter 5 in Consumption, Production, and Entrepreneurship in the Time of Coronavirus, 2022, pp 79-104 from Springer

Abstract: Abstract Successful luxury brands are reimagining their future marketing strategies with innovative solutions to thrive in a post-pandemic era. This analysis explores how luxury businesses benefit from resilient adaptation to garner a competitive advantage going forward. From the lens of competitive advantage theory, luxury brands can improve their value propositions with meaningful focus on environmental, social, governance, and sustainability factors. From the perspective of institutional theory, luxury brands can translate market pressures arising from customers’ concern for safety, limited travel, and lockdowns into adaptive and visionary omnichannel commerce. From the view of resource-based theory, luxury firms can redeploy their resources and capabilities in inventive ways that best meet a challenging business environment disrupted by the pandemic. This conceptual research also discusses implications for future marketing research and informs practice for luxury brands as we move to a “new normal” in an evolving post-pandemic era.

Keywords: COVID-19; Institutional theory; Luxury brands; Luxury marketing; Theoretical toolbox (search for similar items in EconPapers)
Date: 2022
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Persistent link: https://EconPapers.repec.org/RePEc:spr:sprchp:978-3-030-93169-8_5

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DOI: 10.1007/978-3-030-93169-8_5

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